The VLB helps Veterans, military members and their spouses buy homes and then help pay to improve it through the Texas Veterans Home Improvement Program (VHIP).
This program was introduced in 1986 to provide below-market interest rate loans to qualified Texas Veterans for home repairs and improvement to their existing homes.
The VLB offers up to $50,000.00 for a 20-year loan or up to $10,000.00 for a 10-year loan. Veterans with a VA service-connected disability rating of 30% or greater qualify for a discounted interest rate.
No down-payment is required, however, the program does require the following:
*Discounts may apply for Veterans with service-connected disability of 30% or greater
*Some improvements may not be eligible – Learn More
Note: All VLB interest rates and available discounts are subject to change at anytime. VLB Base Rate is subject to adjustments on the first business day of each week. All loans are subject to credit approval.
VLB Home Improvement Loans in the amount of $25,000 or less are insured by the Federal Housing Administration (FHA). To qualify, the following requirements must be met:
It’s possible for a veteran to have one active loan in each program — land, home, and home improvement- at the same time. Once a Veteran, or his or her successor, has successfully paid off a VLB home improvement loan s/he may obtain another VLB home improvement loan. The same applies to our land and housing program. All VLB programs are self-funded, using no public taxpayer funding. VLB programs are financed with bonds, which are serviced by loan payments from Veteran participants.
A VLB home improvement loan can be used for alterations, repairs and improvements that are eligible for financing under the Department of Housing & Urban Develop (HUD) federal Housing Administration (FHA) Title I Loan Program.
All work and/or construction must be in compliance with the applicable building codes and standards. The VLB home improvement loan can only be used to make repairs and improvements to the Veterans existing primary residence. Visit the forms section of our website for a detailed listing of eligible and ineligible home improvements.
To be eligible for VLB programs, Veterans, military members and their spouses must be: